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The Real Estate Institute of South Australia (REISA) has refuted a report claiming the country is currently geared towards buyers.
According to the REISA, there is currently an even balance between buyers and sellers – and it's moving in the direction of sellers.
“This marks a stark contrast from October 2013 when the [Home Buyer Index] deemed SA's property market to be largely dominated by buyers,” a REISA spokesperson said.
“Analysis shows that the state is currently experiencing balanced activity as the number of properties for sale is on a par with buyer demand.”
Clive van Horen, general manager of home loans at Commonwealth Bank, said that anyone hoping to secure real estate should look outside capital cities for the best buys.
“Buyers should undertake comprehensive research before entering negotiations, including looking at comparative property valuations and real market value data, as well as getting tailored advice from lending specialists,” he said.
Capital city dwelling values increased by 2.3 per cent throughout March, according to the March RP Data-Rismark Home Value Index.
The report also shows that values are 3.5 per cent higher at the end of the first quarter of the year than they were at the start.
However, Rismark's managing director Ben Skilbeck said it could be seasonality having an impact on the findings, as March is typically a strong selling month.
“As such, there should be little surprise that, in the presence of high auction clearance rates and in the absence of any major economic changes, the March month delivered materially stronger performance than the flat February result,” Mr Skilbeck said.
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